Cost of the Bond
The “estimated” costs for this proposed bond are as follows: According to Sequim School District Brian Lewis, the estimated cost of interest for the payback of the bond will be approximately $30,000,000.00 ($30 million). This would presume an interest rate of around 4.5%. Attached is a payback schedule for 3.5% and 4%, respectively. Click here: School Bond Cost_2016
According to the Peninsula Daily News, a “Maintenance and Operations” levy was passed in 2013 for $5,780,000 for Sequim schools maintenance and operation through 2017. In addition, a transportation levy of $1.6 million passed that same year, to purchase brand-new busses (17 of them), so the school could have a “standardized” fleet. Prior to that, there was a construction bond passed in 1998 which expired. http://www.peninsuladailynews.com/article/20130213/NEWS/302139985/ In a Sequim Gazette article, Brian Lewis, Sequim School District’s business manager, said that in 2012-2013 maintenance and operation levy funds comprised about 20 percent of total district revenues, up from 15 percent from a year before (2011-2012), because of decreases in state funding.
School Bond Projects
This is how the bond money (should the bond pass) will be spent:
Uses of Education Programs
(Click on Report for full information, or click here for PDF Version – 2015-2016 Use of Local Levy Funds) Only $361,000 of the EP&O (Educational Programs and Operations Levy Funds – formerly called “Maintenance & Operations” Levy) was used for building maintenance. (See 3rd item below).
Previous Election Results
There are approximately 22,000 voters in the Sequim School District. To pass, the bond must receive 60% or more of the vote. The most who have previously voted are 12,689.00. Let your voice be heard. Please vote in the February 2016 Election. Click here for PDF version: SEQUIM SCHOOL DISTRICT previous bond election results
Other Interesting Things…
Did you know that all school employees get paid their hourly rate to attend any or all of the courses described here? http://www.sequim.k12.wa.us/cms/lib6/WA01000561/Centricity/Domain/841/SU%20Course%20Catalog%20Jan%202016.pdf